As urbanization accelerates, the population increases and the living space becomes smaller, the demand for compact and portable furniture increases. Among them, fold furniture not only function diversity, still save the space, become the best substitute of traditional furniture, the market prospect is broad.
Allied Market Research recently released "2014-2022 global fold furniture Market opportunity analysis and industry forecast report, global fold furniture Market turnover in 2022 is expected to reach $13 billion, 2016-2022 compound growth rate of 6.8%.
In terms of market demand, the asia-pacific region has the largest market share, followed by Europe. The asia-pacific region is to speed up the urbanization process, the effective use of limited space needs, small family housing, greatly promotes the rapid growth of demand fold furniture.
For European markets, creativity is also the reason why folding furniture is so popular in Europe. For example, a small coffee table that can be stretched into a table, and a hydraulic mechanism that spins 90 degrees can turn into a big bed wall, and so on.
Folding furniture is now mainly used in homes, not for commercial use; The most popular product types are couches, accounting for three-fifths of folding furniture. According to Allied Market Research, the fastest-growing product category is the folding bed, which has the highest annual growth rate. Some innovative furniture designs, such as murphy bed (wall bed, invisibility bed, flip bed), will be more popular in the near future
Currently, folding furniture is sold both offline and online, while the offline channel is still the main sales force, accounting for nearly 80% of sales. In the future, the online sales of folded furniture are expected to increase rapidly as the convenience and service of e-commerce (such as free shipping, including furniture installation, etc.) are improved.